3/27/2007 @ 12:01AM

In Pictures: World's Most Extravagant Handbags

The Chanel “Diamond Forever” Classic Bag

$261,000

This is one item you won’t want to return if you are lucky enough to get it for the holidays. Debuting in December, the “Diamond Forever” classic bag boasts 334 diamonds totaling 3.56 carats, set in 18-carat white gold hardware. The long shoulder straps are made with the same white gold. Only 13 are available worldwide, and five will be available stateside.